The Competition Authority held a public meeting today on the takeover of businesses by banks and its impact on competition and the recovery of the business sector.
Just over 160 people from numerous sectors of business attended the meeting.
Gylfi Magnússon, Minister of Economic Affairs and Commerce, addressed the meeting. Páll Gunnar Pálsson, Director of the Competition Authority, described the Authority's response to the takeover of businesses by banks, including the rules set for the banks regarding their takeover of several companies in various sectors of the economy.
Finally, the four speakers stated their views. They were Vilmundur Jósefsson, CEO of Gæðafæði and Chairman of the Business Association, Kristín Pétursdóttir, CEO of Auður Capital, Páll Harðarson, Deputy CEO of NASDAQ OMX Iceland, and Birna Einarsdóttir, CEO of Íslandsbanki. The chairman was Rögnvaldur J. Sæmundsson, chairman of the board of the Competition Authority.
Attached is the speech of Páll Gunnar Pálsson and the slides of Páll Harðarson and Birna Einarsdóttir.
Speech Páls Gunnars Pálsson
Slides Páls Harðarsonar
Slides Birna Einarsdóttir
Useful information:
Discussion document on banks and corporate restructuring
The Competition Authority Imposes conditions on banks regarding the takeover of companies
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